The situation for the analyzed pair continues to unfold according to the previously outlined plan. Currently, a corrective structure is likely forming, which appears to be taking the shape of a double zigzag. In this model, the final part remains — an impulsive decline in wave c of y.

However, it is also possible that wave b of y has not yet been completed. In that case, the price may consolidate within a narrow range for a while.

For a safer trade entry, it is recommended to wait for a break below the low formed by wave a of y.

Recommendations: SELL 1.1190, SL 1.1220, TP 1.1000.